TL;DR
- Hut 8 acquires 80% of American Data Centers, a company backed by Eric Trump and Donald Trump Jr., transforming it into “American Bitcoin”, a new entity focused exclusively on large-scale Bitcoin mining.
- Over 60,000 ASIC machines will be deployed in an effort to turn American Bitcoin into the most efficient miner with significant strategic BTC reserves.
- The alliance strengthens the Trump family’s presence in the crypto ecosystem, following their previous investments in DeFi projects and Solana-based memecoins.
In a move that could reshape the U.S. cryptocurrency mining landscape, Hut 8 — one of the most recognized Bitcoin mining companies in the market — has announced a strategic merger with American Data Centers, a firm directly backed by Eric Trump and Donald Trump Jr. As a result, both parties will launch a new company: American Bitcoin, focused exclusively on industrial-scale BTC mining and strategic reserve development.
The deal, which involves no cash exchange, grants Hut 8 an 80% ownership stake in American Bitcoin, while the Trump-backed group retains the remaining 20%. In addition, Hut 8 will oversee operations through a shared services agreement, positioning itself as the primary driver behind this new joint venture. The announcement led to a slight increase in Hut 8’s share price, though the company’s year-to-date performance remains negative.
American Bitcoin: An Ambitious Play to Lead the Sector
Hut 8 will transfer more than 60,000 ASIC mining machines to the new venture, aiming to turn American Bitcoin into the most efficient and dominant player in the mining space. The leadership team will include Mike Ho as executive chairman, Matt Prusak as CEO, and Eric Trump as chief strategy officer. The company plans to raise its own capital and operate as a standalone entity, a smart approach to better align each segment with its respective capital costs.
The Trump family’s involvement in the crypto sector is not new. In addition to this new venture, they have backed the DeFi protocol World Liberty Financial, which is preparing to launch its own stablecoin, and they’ve been linked to Solana-based tokens like TRUMP and MELANIA. While those memecoins have lost significant value since their launch, the family’s growing interest in digital assets appears undeterred.
From a pro-crypto perspective, this alliance could be a key opportunity to revitalize the American mining industry again amid the recent halving-driven reward cuts. The fact that influential players are embracing Bitcoin infrastructure and adoption reinforces its legitimacy and potential as a long-term strategic asset.
The real question now is: can American Bitcoin lead the next phase of the U.S. mining revival?
